Buddy Blake Team · Coldwell Banker Sea Coast Advantage
Market insights: Sunset Park, Wilmington
September 23, 2026
(910) 395‑1000 · buddyblake.ai
In Sunset Park, 1 in 3 homes listed didn't sell
In the last 12 months, 40 homes finished their time on the market in the Sunset Park neighborhood in Wilmington: 26 sold and 14 did not — about 1 in 3. The ones that sold took a median of 13 days, counted from the first day listed, and closed at 97.9% of their first asking price.
Which pile do you want to be in?
Out of every 20 homes listed in Sunset Park, Wilmington over the last 12 months, the solid houses sold. The outlined ones expired, were withdrawn or were canceled.
Priced right from day one: sold in a median 4 days. Needed price cuts: 62 days, and sold for 92.8% of the first price.
What waiting costs
| Mortgage (principal + interest) | $1,734 |
| Property taxes | $84 |
| Homeowners insurance | $250 |
| Upkeep | $273 |
| Utilities | $250 |
| About | $2,590 |
About $2,590 every month the home sits.
Listings that didn't sell stayed on the market a median of 147 days — roughly $12,500 in holding costs, and the home still didn't sell.
An example, not a quote: 20% down, 30-year fixed at 6.95% (Freddie Mac average, 2026-09-17); New Hanover County rate 0.306 per $100 (NC Department of Revenue, 2025-26 county rates); town taxes add more inside town limits; insurance, upkeep (1% of value a year) and utilities are typical estimates. If your home is paid off, the mortgage line drops out — the rest still adds up.
When contracts fall apart
Contracts that fell apart
19%
6 of about 32 before closing
Those homes that later sold
50%
50% never sold
Sold vs. first ask after a fall-through
93.6%
vs. 98.9% on the first contract
Days to sell after a fall-through
130
vs. 12 on the first contract
The MLS doesn't record why a contract ends. In our experience the most common reasons are home inspection findings, appraisals that come in below the price, and buyer financing. How buyers paid on closed sales: conventional 73% · cash 4% · VA 8% · FHA 4%.
If you're selling
- Homes priced right from day one sold in a median of 4 days. Homes that needed price cuts took 62 days and sold for 92.8% of their first price.
- Waiting costs money. A $327,500 home runs about $2,590 a month to hold — roughly $12,500 over the time a typical unsold listing sat.
- About 1 in 5 contracts fell apart before closing. Homes that went back on the market sold for 93.6% of first asking, versus 98.9% for homes that closed on the first contract.
If you're buying
- 54% of homes sold below their first asking price — the first price is often a starting point.
- Homes that sit usually sit for a reason. Listings that didn't sell stayed on the market a median of 147 days.
Did you know?
- 4% of buyers paid cash, and 8% used VA loans.
- A year earlier, 19% of listings didn't sell; now it's 35%.
- When a contract fell apart, 50% of those homes never sold at all.
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For sellers
Listings that didn't sell
35%
up 16.0 pts from a year ago
14 expired, withdrawn or canceled vs 26 sold
Sold vs. first asking price
97.9%
up 1.0 pts from a year ago
median sale price ÷ original list price
Sold below first asking
54%
share of homes that sold
Price cut on homes that didn't sell
3.7%
median — and they still didn't sell
For buyers
True days on market
13
about the same as a year ago
median for sold homes, counted from the first listing
Typical room below first ask
2.1%
how far under the original price homes sold
Didn't sell, then sold on a relist
7%
of listings that didn't sell the first time
Median sold price
$328K
up 9.0% from a year ago
26 homes sold
The last 23 months
75% latest month · Aug 26
4 latest month · Aug 26
108.0% latest month · Aug 26
By starting price
| First asking | Sold | Didn't sell | % didn't sell | True days | Sold vs. first ask |
|---|---|---|---|---|---|
| Under $300K | 6 | 2 | 25% | 14 | 98.5% |
| $300–400K | 12 | 9 | 43% | 11 | 97.9% |
| $400–500K | 5 | 1 | 17% | 28 | 100.0% |
| $500–750K | 3 | 1 | 25% | 62 | 88.7% |
| $750K–1M | 0 | 1 | 100% | — | — |
Homes only (land excluded), last 12 months unless noted. "Didn't sell" = listings that expired, were withdrawn or were canceled (some owners stop for reasons that have nothing to do with the market); true days on market counts from the first listing, even when a home was relisted. Source: Hive MLS listing and sales records, updated September 23, 2026. Totals only — no individual listing is shown. Buddy Blake Team · Coldwell Banker Sea Coast Advantage · (910) 395‑1000